Natural Gas - Daily technical Forecast

By IBT Staff Reporter On 06/03/10 AT 1:42 AM

Natural Gas closed sharply higher on Wednesday as it extends the rally off last week's low. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If July extends this week's rally, May's high crossing is the next upside target. If it renews the decline off May's high, the reaction low crossing is the next downside target.